Agri exports rise by 9 per cent

Driven by a spike in the shipment of rice, fruits, vegetables, livestock and dairy products, the exports of agricultural and processed food products rose by 9% to $26.3 billion in 2022-23 as against 2021-22, reports Financial Express.

The agricultural and processed food products export development authority (Apeda) has surpassed the shipment target of $23.56 billion for FY23.

The value of rice exports in FY23 has increased to a record $11.1 billion from $9.6 billion in the preceding fiscal (more than a 15% increase).

The shipment of rice grew by 5% to 22.34 million tonnes (MT) than last fiscal in terms of volume.

The robust global demand for rice from West Asian countries, Africa and Europe and floods in Pakistan, one of the major grain exporters are the reasons behind the spike in rice exports.

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